Supernet unveils Rs915m right issue to fuel growth

July 15, 2026 (MLN): A paid-up share capital increase of approximately 85% has been approved by Supernet Technologies Limited (PSX: STL) through a rights issue of 91,476,554 ordinary shares at Rs10 per share, raising Rs914.77m to strengthen the company's capital base, support its expanding portfolio of technology projects and position it for its next phase of growth.

The rights shares will be offered in the proportion of approximately 85 shares for every 100 ordinary shares held by eligible shareholders, taking the company's paid-up capital from Rs1.08bn to Rs1.99bn. The issue remains subject to completion of applicable legal and regulatory processes.

Of the total proceeds, Rs464.77m (50.81%) has been allocated toward working capital to support execution of existing and upcoming business initiatives, with the objective of strengthening operational performance, liquidity position and growth prospects.

The remaining Rs450m (49.19%) will partially fund the consideration payable to Telecard Limited under the Share Purchase Agreement dated February 15, 2024 (as amended from time to time), in connection with the acquisition of a 51% shareholding in Supernet Limited.

The decision follows a period of significant strategic and operational transformation for Supernet Technologies, including completion of its merger with Supernet Limited, expansion of its regional footprint through the Supernet Global platform, and continued growth across digital infrastructure, cybersecurity, cloud, connectivity, managed services, enterprise networking and technology integration.

The merger has created a larger and more diversified technology platform, bringing together complementary capabilities and enabling the company to offer integrated and secure solutions to governments, enterprises and critical-infrastructure customers.

Supernet is also leveraging its presence in the UAE to pursue business opportunities across the Middle East, Africa and Central Asia, while continuing to consolidate its position in Pakistan.

The company has secured a series of significant projects across cybersecurity, enterprise technology and communications infrastructure, alongside expanding its presence in regional markets, most recently a contract valued at approximately Rs1bn for the enhancement and modernisation of critical communications infrastructure in Pakistan the largest single contract secured by the company to date, expected to contribute to revenue and profitability during FY2026-27.

The company continues to pursue a growing pipeline of opportunities in digital infrastructure, cybersecurity, connectivity and enterprise technology solutions across Pakistan and regional markets.

The rights issue is expected to strengthen Supernet Technologies' balance sheet, optimise its capital structure and improve its ability to respond to evolving customer requirements and emerging market opportunities.

The issue is being carried out at a price significantly below the prevailing market price, with no major investment risk associated with it.

The directors and substantial shareholder, Telecard Limited, have confirmed their intention to subscribe to, or arrange subscription for, their respective rights entitlements, while any remaining portion of the issue will be underwritten in accordance with applicable laws and regulations.

No premium has been charged on the issue and no minimum subscription amount has been set. Dates for closure of the share transfer books to determine shareholder entitlements will be communicated in due course after finalization of the offer document.

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